Bitcoin for $ 400,000? ARK Invest explains how this becomes reality

ARK Invest is convinced that fundamentals are currently driving the bitcoin price higher. In addition, the company still sees great growth potential in BTC. What are the reasons for this?

ARK Invest is an American asset management company founded in 2014 by Catherine D. Wood. The company currently manages $ 29.3 billion in assets and invests, among others, in cryptocurrencies such as bitcoin.

Every year, ARK Invest publishes the Big Ideas 2021 Report, which reports on investment ideas. Bitcoin still has huge growth potential, according to the report. After all, the asset manager believes that if a few more companies follow Square and MicroStrategy's lead and invest some of their capital in bitcoin, the price of BTC could skyrocket.

In addition, ARK Invest states that if all S&P 500 companies invest one percent of their capital reserves in BTC, the price of BTC will rise by about $ 40,000.

The basics are driving the price of bitcoin

Also, according to ARK Invest, the current rise in bitcoin prices is less due to the hype than in 2017. One reason for this is that some companies already classify BTC as a safe haven. To this end, MicroStrategy counted again yesterday and bought a total of just under 295 BTC.

MicroStrategy acquired about 295 bitcoins worth $ 10.0 million in cash at an average price of ~ $ 33,808 per # bitcoin. We have now purchased #hodl ~ 71,079 bitcoins for $ 1.145 billion at an average price of ~ $ 16,109 per bitcoin. https://t.co/lmj3QCgKbw

- Michael Saylor (@michael_saylor) February 2, 2021

According to ARK Invest, if S&P 500 companies invest only 10 percent of their capital reserves in Bitcoin, BTC could rise by as much as $ 400,000. Today, the number of companies investing in Bitcoin is extremely small compared to all of the listed US companies. At the last review, there were less than two dozen publicly traded companies that have BTC on their balance sheets. But not only ARK Invest believes that this will change soon. Elon Musk also predicts an increase in the entry of companies into the bitcoin market.

Source: btc-echo.de

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